Contact UsSend us an instant email using the form below, and we will respond within 24 hours to let you know if we think you have a case.
Sign Up for Our Free Newsletter
600 Old Country Road
Garden City NY 11530
Voice: 516.832.7777
150 Motor Pkwy Ste 401
Hauppauge NY 11788
Voice: 631.390.0001
140 Broadway 46th flr
New York NY 10005
Voice: 212.233.6600
337 East 149 Street
Bronx NY 10451
Voice: 718.204.8000
111 Livingston St.
Brooklyn, NY 11201
Financial Exploitation of the Elderly
in Brooklyn, Bronx, Queens, Nassau County, and Suffolk County
Negligent security and abuse against our nation's elderly is a horrific and constantly growing problem that may be affecting an elderly person in your life. According to the National Center on Elder Abuse, we do not know exactly how many older Americans are being abused, neglected and exploited in our country's medical facilities and private homes; however, according to the best available estimates, between 1 and 2 million Americans age 65 and older have been injured, exploited or otherwise mistreated by someone on whom they depended for care or protection. Only 1 in 14 cases of elder abuse comes to the attention of authorities.
Sadly, many of these abused seniors are afraid to report their abuse fearing it will only get worse. Often times, the abuser is a family member or trusted family friend. Abuse against the elderly takes many forms including physical abuse, sexual abuse, emotional abuse, neglect and abandonment.
There is one type of abuse that may take particularly long to discover, and that is financial exploitation of the elderly. Financial exploitation is defined as the improper use of an adult's funds, property or resources by another individual including, but not limited to, fraud, false pretenses, embezzlement, conspiracy, forgery, falsifying records, coerced property transfers or denial of access to assets.
Current estimates put the overall reporting of financial exploitation at 1 in 25 cases, suggesting that there may be at least 5 million financial abuse victims each year. Keep in mind that many cases, each year, are unreported. It's been estimated that for every one case of financial exploitation that is reported, about five more go unreported.
There are warning signs of financial exploitation of the elderly. Some of the symptoms to look for are:
- Neglected or receiving insufficient care
- Isolated from family members or other support
- Accompanied by a stranger who encourages them to withdraw cash
- Accompanied by a family member or other person who seems to coerce the elderly person into making financial transactions
- Not allowed to speak for themselves
- With someone who appears too interested in their financial status
- Nervous or afraid of the person accompanying them
- Cannot account for their money
- Unable to remember financial transactions
- Suspicious banking activity
If you feel your elderly loved one has been financially exploited, please contact the experienced elder abuse attorneys at Silberstein Awad & Miklos today to schedule your free initial consultation. Our attorneys serve clients in Queens, Brooklyn, the Bronx, Manhattan and Long Island, New York and will work hard to get you the monetary compensation you deserve.
